Far From the Big City, New Economic Life
The New York Times
Incomes are low in small-town Tennessee, but so is the cost of living. That attraction could be a key to reviving many rural areas.
GAINESBORO, Tenn. — There is not much to suggest prosperity in Gainesboro, a hamlet of 920 in Tennessee’s Upper Cumberland region. Almost one in seven homes are vacant. One-quarter of the population lives in poverty.
Yet from his office in the Jackson County Courthouse, County Mayor Randy Heady outlines a picture of plenty: Revenue from sales and occupancy taxes almost doubled in the last fiscal year, and he expects another 20 percent increase this year. “Sales tax is up, occupancy tax is up, liquor tax is up,” he said.
And outsiders are flocking into the county. “They are coming from other states, trying to get away from the high taxes,” Mr. Heady said. “People are moving from Arizona and California, New York and New Jersey.”
Concerns that crypto companies are being purposely cut off from the global banking system have become a political cudgel at an opportune moment for the industry.
A Nevada commissioner ruled resoundingly against Mr. Murdoch, who was trying to give full control of his empire to his son Lachlan and lock in Fox News’s right-wing editorial slant.
The move by Chinese regulators came a week after the Biden administration expanded curbs on the sale of advanced U.S. technology to China.
Walter Mosley talks about how his fictional hero frees himself from wage labor through America’s favorite side hustle: landlording.
Acadia Healthcare falsifies records at its methadone clinics and enrolls patients who aren’t addicted to opioids, a Times investigation found.
The law will ban the video app in the United States by Jan. 19 if its owner, ByteDance, does not sell it to a non-Chinese company.
The chief executive of Nvidia, Jensen Huang, has taken advantage of popular loopholes in the federal estate and gift taxes, which have quietly been eviscerated.
Connor Sports, in the tiny mill town of Amasa, Mich., is one of the leading makers of hardwood floors for top professional and college teams.
Faltering U.S. industrial leadership has allowed China to take a harder trade stance as President-elect Donald Trump prepares to take office.
General Motors and other foreign automakers are selling fewer cars and losing lots of money in China, where domestic electric and hybrid cars have taken off.
Pat Gelsinger stepped down after nearly four years at the helm of the onetime highflying company, Intel said Monday.